In many contexts, the ability to verify the existence and history of data is valuable. For example, in the medical and financial fields, regulators require that certain records are kept and proving that digital records existed on a certain date and have not been altered may be important for companies and individuals to demonstrate compliance. As another example, in some research contexts, it may be important for scientists to be able to demonstrate the date on which certain discoveries were made with verifiable data.
In some situations, unauthorized manipulation of data can lead to expensive problems. Altered data may be misleading, resulting in delays in bringing a new product to market. Such delays may also enable a competitor to be first to market or extend a competitor's period of market exclusivity unnecessarily. Conversely, altered data may also lead to an unsafe product being released, potentially exposing the company to liability in future. Thus, a system that could detect unauthorized manipulations of stored data would provide value to companies and enable them to limit the impact of such events.